Dwight Capital closed over $233 MM in loans during the month of May.
One of the featured closings included a $30 MM HUD 223(f) loan for San Paulo Apartments, a 208-unit apartment complex located in Phoenix, AZ. Situated on over 10 acres in the Ahwatukee district of Phoenix, the property consists of 13 two-story residential buildings, a clubhouse, and fitness center. The mortgage includes a reduced Mortgage Insurance Premium (“MIP”) of 0.25% due to San Paulo Apartments’ Green/Energy Efficient status. Managing Director, Brandon Baksh, and Originator, Brian Yee, originated the loan.
Another featured loan was a $27.89 MM HUD 223(a)(7) loan for Creekview Crossing Apartments, a 183-unit apartment community located in Sherwood, OR. Built in 2009, the property is surrounded by lush landscaping and has been very well-maintained by the owner. Creekview Crossing has been HUD-insured since 2010, but with this refinance the Dwight team was able to achieve an ENERGY STAR certification for the property, which generated substantial savings for the borrower including a reduced MIP of 0.25%. Managing Principal, Josh Sasouness, originated the loan.